Eligible Aircraft definition

Eligible Aircraft has the meaning set forth in the second recital to the Note Purchase Agreement.

Eligible Aircraft. Has the meaning specified in the recitals hereto.

Eligible Aircraft means any Aircraft which satisfies each of the following requirements:

Examples of Eligible Aircraft in a sentence

• Upon the satisfaction of the conditions set forth above with respect to a Substitute Aircraft, the Eligible Aircraft it replaced shall cease to be subject to this Note Purchase Agreement and all rights and obligations of the parties hereto concerning such Eligible Aircraft shall cease, and such Substitute Aircraft shall become, and thereafter be, subject to the terms and conditions of this Note Purchase Agreement to the same extent as such Eligible Aircraft.

• Full legal and beneficial ownership of each Aircraft identified as Eligible Aircraft in the most recent Borrowing Base Certificate submitted pursuant to the DIP Revolving Credit Agreement is held by Borrower, Evergreen or Evergreen Equity and is free and clear of all Liens (other than Permitted Liens).

• None of the Borrower or any of its Subsidiaries will create, incur, assume or otherwise cause or suffer to exist or become effective any Lien on any Eligible Aircraft, Eligible Engines, or Eligible Inventory that secures any Indebtedness or any related guarantees (other than Liens to secure the Obligations, the Senior Note Indebtedness, the Indebtedness under the Prepetition Revolving Credit Agreement and the Indebtedness under the DIP Revolving Credit Agreement.

• The Company confirms that it has entered into the Aircraft Purchase Agreement with the Manufacturer pursuant to which the Company has agreed to purchase, and the Manufacturer has agreed to deliver, the Eligible Aircraft in the months specified in Schedule I hereto (which months are subject to change as provided in the Aircraft Purchase Agreement), all on and subject to the terms and conditions specified in the Aircraft Purchase Agreement.

• The Arranger shall, at the request of the Guarantor, provide all reasonable assistance to the Guarantor in any application it makes to the Export Credit Agencies for approval of the financing of any aircraft which is the subject of either Aircraft Purchase Agreement which is not an Aircraft or an Eligible Aircraft.

More Definitions of Eligible Aircraft

Eligible Aircraft means a Boeing 747-200, 747-300 or 747-400 or MD-11 aircraft, including any engines installed thereon and any spare engines of the same type and model, which (i) is in a cargo configuration capable of immediate operation in the business of Lessee or is eligible for delivery under a modification agreement with a delivery slot available within a six month period (or is leased for a period of longer than six months until a delivery slot is available), and (ii) has a maximum gross take-off weight ("MTOW") of at least 800,000 pounds, in the case of any 747-200, 747-300, or 747-400 aircraft and 630,000 pounds in the case of any MD-11 aircraft.

Eligible Aircraft has the meaning set forth in the Note Purchase Agreement.

Eligible Aircraft. Has the meaning specified in the recitals hereto. Embraer: Means Embraer S.A.

Eligible Aircraft has the meaning set forth in the third recital to the Note Purchase Agreement.

Eligible Aircraft means aircraft Owned directly by a Guarantor or through a Guarantor’s 100% direct beneficial ownership in a Qualified Owner Trust, subject to no Liens other than Permitted Aircraft Liens; provided that

Eligible Aircraft means Airbus model A319, A320 or A321 family aircraft (including any new engine option variants of any such aircraft), in each case that are owned by the Borrower or any other applicable Grantor and that are eligible for the benefits of Section 1110.

Eligible Aircraft means any one or more aircraft (“substitution aircraft”) (i) which has (or jointly have) a fair market value (as determined by Holdings in consultation with the Lenders or their advisors, and including Aircraft Collateral and Aircraft-Related Collateral related thereto) equal to or greater than the fair market value of one or more Aircraft included in the Aircraft Collateral and Aircraft-Related Collateral related thereto being replaced by the substitution aircraft; and (ii) which substitution aircraft is (or are) registered (A) in any Effective Date Jurisdiction, or (B) in any jurisdiction in which Holdings or any Subsidiary is required to perform helicopter transportation services for customers, the performance of services in which would not invalidate Holdings’ required insurance coverage.